“It's a race car you can put a license plate on,” the legendary Parnelli Jones said at the unveiling in 2010. He raced the original to victory in the 1970 Trans-Am season opener at Laguna Seca.

The Boss Mustang was available for the 2012 and 2013 model years. It ran a 5.0-liter V8 pumping out 444 hp and 380 lb-ft of torque. Like the 2014 Chevrolet Camaro Z/28 revealed last month at the New York auto show, the Boss placed an emphasis on track-readiness and agility, rather than pure power. Neither the Boss nor the Z/28 is the highest-powered pony car offered by their brands—rather, each features intensive chassis refinements and weight-saving elements.

The Mustang employed lightweight 19-inch alloy racing wheels, manually adjustable shocks and struts, and firmer coil springs and suspension bushings at the corners. It was slotted between the Mustang GT and Shelby GT 500 in Ford's stable.

Fields, who was promoted from Ford's president of the Americas to chief operating officer on Dec. 1, 2012, is widely believed to be a strong candidate to succeed CEO Alan Mulally. Fields also told Speed that racing will continue to be a strong element of Ford's business plan.

“Motorsports is in our blood,” he said.

The Blue Oval exec also told the television network that Lincoln remains a priority, though being competitive could take five to 10 years.

“This is a journey,” he said.

Fields left the broadcast booth right before a rare 1953 Mercury Monterey four-door Woody station wagon was sold for $55,000, including buyer's fees.

The Boss 302 Mustang packed a 5.0-liter V8 and was enhanced with track-ready chassis components. Photo by Ford